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J.P. Morgan Creates $500M-$750M Digital Media Fund [REPORT]

J.P. Morgan Chase, apparently looking to make up ground against rival Goldman Sachs, plans to start a fund that would target Internet and digital media companies, according to a report in The Wall Street Journal.

The fund is looking to raise $500 million to $750 million, according to the report, which cites "people familiar with the matter." The firm sent marketing materials to prospective investors about two weeks ago, the article states. (Access to the full article requires a subscription.)

The investment fund would target "late-stage" private companies that have demonstrated a successful business model replete with steady revenues, the article goes on to say.

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